Pamela Scott's owner invests over 500,000 pounds into the business

Irish fashion business Pamela Scott has just received some oxygen in the form of 553,000 euros. According to the company’s filing, the firm recorded losses of 867,708 euros last year.

In an attempt to return the Irish fashion business to being profitable, Pamela Scott’s founder ploughed a further 553,000 euros in loans into the chain as the business forecasts a return to profit, reported the ‘Independent’.

Similarly, the ‘Irish Register’ published that accounts just filed by Flairline Fashions Ltd show that Sean Barron was owed three million euros in loans by the company at the end of August 2016. The filing further detailed that the loss last year followed a loss of 2.58 million euros in 2015 that included exceptional costs of 2.66 million euros. Besides, at the end of August last, the business had net liabilities which totalling 5.4 million euros.

However, the business’ executives stated that "we have a reasonable expectation that the company has adequate resources to continue operations for the upcoming year based on continuing financial support of its group companies and shareholders and budgeted profits for the group in the upcoming year".

The firm, run by Barron and his sons, last year celebrated 40 years in business.